Page 27 - West Asia

West Asia war, fresh US trade probes fuel market volatility: RBI bulletin

The conflict in West Asia and fresh trade investigations by the US have resulted in increased volatility in the global markets, the RBI bulletin said on Monday. India's foreign exchange reserves remain adequate to provide a cushion against external shocks, said an article on the state of the economy published in the bulletin. The second advance estimates of GDP for 2025-26 indicate sustained resilience of the Indian economy, it noted. "High-frequency indicators signal towards economic activity gaining momentum in February," the article said. It further said CPI headline inflation picked up in February on account of food and beverages. System liquidity has remained comfortable, and the total flow of financial resources to the commercial sector rose, with a rise in financing from both the bank and non-bank sources, it added. The central bank, however, said views expressed in the article are those of the authors and do not represent the views of the Reserve Bank of India.

HDFC Bank, L&T: How to trade these 2 heavyweights at CMP? Analyst says this

Kunal Kamble, technical analyst at Bonanza cautions against venturing into HDFC Bank stock for now due to a weak chart setup; while he sees support for Larsen & Toubro around ₹3,100 levels.

Gold, silver ETFs decline up to 8% as West Asia crisis spooks investors

Broader market sentiment was also fragile on Monday as the war in West Asia entered its fourth week with no clear resolution in sight

Israel thought it could spur rebellion inside Iran. That hasn't happened

President Trump's hopes that an Israeli plan to ignite an internal uprising against Iran's theocratic government could bring the war to a swift end have so far been dashed

West Asia crisis: PM Modi takes stock of fuel, power, fertiliser supply

Prime Minister chairs CCS meeting to assess oil, gas and fertiliser supply risks, directs coordinated response as Hormuz closure disrupts flows

Ready to supply more than 20% ethanol blends amid rising oil prices: AIDA

With West Asia in turmoil and crude oil prices rising, the All India Distillers' Association (AIDA) has offered to supply ethanol blends exceeding 20 per cent with petrol, saying the move could proportionally reduce India's dependence on imported crude oil. In a letter to Union Minister for Road Transport and Highways Nitin Gadkari, AIDA Deputy Director General Bharati Balaji said the ethanol industry was prepared to go beyond the E20 target already achieved by the country. "Now with the Middle East entangled in a war and oil prices having started increasing, we as an ethanol industry are ready to offer ethanol more than 20 per cent which will reduce proportionally the import of crude," she said in the letter. She said such a step will mitigate supply disruptions and adverse economic impact on the country. India achieved its E20 ethanol blending target -- mixing 20 per cent ethanol with petrol -- ahead of schedule in 2025, a goal set under Prime Minister Narendra Modi's administrat

Domestic urea plants at half capacity as West Asia war choke gas supplies

India's urea plants are running at half capacity after force majeure declarations disrupted LNG flows through the Strait of Hormuz amid escalating West Asia tensions, industry sources said on Sunday. Petronet LNG Ltd, which operates India's largest liquefied natural gas receiving terminal, declared force majeure after upstream suppliers cited their inability to deliver contracted volumes amid disruptions to cargoes transiting the Strait, sources said. The move triggered supply curtailments by state-owned gas distributors GAIL (India) Ltd, Indian Oil Corporation Ltd (IOC) and Bharat Petroleum Corporation Ltd (BPCL), which supply gas under RasGas contracts to fertiliser units across the country. "Gas supplies have been curtailed to approximately 60-65 per cent of normal levels," a senior industry official told PTI, adding that when scheduled plant turnarounds over the past six months were factored in, effective supply at some units had fallen below 50 per cent. Urea output at affecte

Fuel crisis shuts aluminium extrusion plants amid West Asia conflict

LPG supply dries up, PNG cuts and rising input costs disrupt operations, forcing plant shutdowns and slashing output as firms struggle to service loans

West Asia business 'near normal' amid war, says L&T's Subramanian Sarma

95% of sites are operating in its 'second home'; supply chain and logistics seen as key challenges, new opportunities likely post war

30-day US waiver: Indian refiners upbeat on buying Iranian crude oil

Indian refiners weigh buying Iranian crude and LPG after US issues a 30-day waiver, as energy markets tighten amid the West Asia conflict

Check unnecessary expenses, Air India CEO tells staff amid West Asia war

The Air India Group has been significantly impacted by the Middle East conflict and the financial impact is "yet to be fully felt", according to Air India chief Campbell Wilson, who has also stressed the need for having a tighter-than-ever control of unnecessary expenditure. Loss-making Air India and Air India Express have been grappling with operational disruptions like other airlines since the start of the conflict involving the US, Israel, and Iran on February 28. "In the three weeks since the conflict started, we have had to cancel around 2,500 flights to the region. As of today, we can operate only around 30 per cent of our normal Middle East schedule because airports and/or airspace are closed, or are assessed to be beyond our safety threshold," Wilson said in a message to the staff on Friday. The airline's flights to the UK, Europe, and North America, are also taking longer flight paths due to airspace restrictions in the region, resulting in more fuel consumption. Wilson sa

Mkts brace for more turbulence as Iran war shows no signs of de-escalation

Escalating conflict, rising oil prices and rupee pressure likely to keep markets volatile as investors turn cautious amid global uncertainty

Things getting out of hand: US miscalculations keep West Asia on the boil

The escalating US-Israel war with Iran deepens global uncertainty, disrupts energy supply chains, and exposes geopolitical fractures from NATO to Asia

Oil prices set to rise further Monday as West Asia crisis escalates

Iran warned it would attack US-linked infrastructure, including energy and desalination facilities in the Gulf, if Trump carried out his threat

Little impact of West Asia conflict on biz, 95% projects on, says L&T

Engineering, procurement and construction major Larsen & Toubro has not seen any major business impact because of the ongoing Middle East conflict, as nearly 95 per cent of the projects are continuing to function, a top official has said. The company, which gets over 35 per cent of its revenue from the geography witnessing conflict after the US and Israel's attack on Iran and the subsequent retaliations, however, flagged logistics and supply chain as key challenges and noted revenue risks if the situation remains unchanged. L&T does not see any immediate impact on revenues as the 5 per cent of projects where work has been stalled do not contribute significantly to the topline, Subramanian Sarma, its deputy managing director, told reporters over the weekend. However, if the logistical issues do not get resolved in three months, there can be an impact through revenue deferment, he added. The top company official, who directly oversees the energy portfolio, declined to directly ..

Iran says Hormuz open to all expect enemy-linked ships amid US threat

The threat of Iranian attacks during the US-Israeli war on Iran has kept most ships from getting through the narrow strait, the conduit for around a fifth of global oil and LNG supplies

Evaluate hiking equity exposure over the next few weeks: Prashant Jain

The prevailing valuations of Nifty of 17.5x one-year forward earnings are reasonable and have room for some rerating apart from returns driven by nearly 12 per cent earnings CAGR over the medium-term.

Indian firms facing shipment delays, input shortages amid Iran war: CII

Indian companies are facing disruptions ranging from shipment delays to shortages of key raw materials due to the ongoing West Asia conflict, the Confederation of Indian Industry (CII) said on Sunday, highlighting growing stress across sectors dependent on global trade flows. In a statement, CII Director General Chandrajit Banerjee said firms are already seeing "downstream effects" as the conflict disrupts key maritime routes and tightens global supply chains. "Indian companies are experiencing downstream effects, from shipment delays to constraints in key energy inputs, as well as emerging shortages in essential raw materials and intermediates across several sectors that rely heavily on timely cross-border flows," he said. The industry body noted that disruptions have also placed pressure on energy markets and trade, affecting both imports and exports, with ripple-effects being felt across manufacturing and other industries. "The conflict in the Middle East has disrupted critical

West Asia war: PM Modi calls ministerial meeting to review energy situation

Prime Minister Narendra Modi will chair a meeting Sunday evening with senior ministers to review to take stock of petroleum, power, and fertiliser sectors in view of the evolving West Asia situation, sources have said. The focus of the meeting is to ensure uninterrupted supply, stable logistics and efficient distribution across the country, and the government is taking proactive steps to this end, they said. Continuous monitoring of global developments to protect consumer and industry interests is the key focus of the government, they said. On March 12, Modi said that the war in West Asia has triggered a worldwide energy crisis, posing a critical test of national character that requires dealing with circumstances through peace, patience, and increased public awareness. The prime minister emphasised that his government is working relentlessly to address disruptions that have emerged in international supply chains. "Continuous efforts are also underway to determine how we can overco

Iran internet blackout stretches into 4th week amid ongoing war concerns

The prolonged disruption has significantly curtailed communication channels both within the country and with the outside world, raising concerns